It’s certainly great to be able to save some money in today’s economy. We’ve mentioned before that you shouldn’t cut costs on important home components, like your HVAC system, as it could cost you in the long run. With that being said, there are credits and rebates available both on a state as well as a federal level to help ease the financial burden that may come with large expenses, like a new HVAC. So without further ado, let’s take a look at those incentives.
New York Incentives
NY has a couple of programs to look at.
Via the NYSERDA programs you can see rebates that are area specific. There are programs for both residential and commercial buildings, and offer different rebates for different improvements, so have a look.
New York also has a Clean Heat Program. This program is often offered through local electric utility providers. Rebates vary based on things like system type, size, location, and so forth. You can check out further details about that program here.
If you happen to meet the low or moderate income limits, you may be eligible for EmPower+. This program gives low income households up to $10,000 for energy efficiency improvements. For moderate income households, it’s up to $5,000.
New Jersey Incentives
Not long ago, NJ had a Clean Energy Program (NJCEP), but it has since been phased out. Now, most credits and rebates are handled through your utility provider. For example, PSE&G offers an HVAC Instant Rebates Program, where you can qualify for up to $25,000 in interest free on-bill repayments as well as save $1,050 on eligible equipment. Of course, each provider’s incentives may differ, so contact your utility provider directly to learn about their specific HVAC rebates and programs.
Federal Incentives
When it comes to the federal level, they’re all about energy efficiency. Hence, they consequently try and give you a break if you’re trying to reduce energy costs and overall demand.
The IRS has two credits you can claim via Form 5695. The residential clean energy credit, and the energy efficiency home improvement credit. You can check out the IRS’s instructions on filling in the form here. Currently, the incentive programs are outlined through 2032, and can give you a credit in different amounts, depending on your improvements. In short, you can get up to $3,200 in tax credits for making energy-efficient upgrades to your home.
As always, there are nuances, for example the credits do not apply to newly built homes, or second homes. For all the nitty gritty details, you can head over to the Energy Star Website and read more in depth.
To Sum Up
Yes, home upgrades tend to cost a pretty penny, but if you know where to look, you can save a pretty penny, especially when it comes to air conditioner rebates. Our team at Green Ductors will be happy to swing by to discuss and help with all of your HVAC needs. Whether that be repair, maintenance, installation, or all of the above. Don’t forget that our technicians are NADCA certified and we offer a 6m warranty on our services. So if you’re ready to make energy efficient upgrades to your heating or cooling systems, don’t hesitate and give us a call today, 888-334-1612
